We Got It Sleazy, Oughta Take it Easy- Eagles Sang

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Well, the Federal Reserve is warning all the bankers;
That the conference calls just don't cease;;
One because we're crashing, two cause it's over, three cause my portfolio please;;
Make it Sleazy, make it sleazy;; a crashing banking system never is that easy;;

Hyperinflation can hurt, you could even lose your shirt;;
Just find a way to eat some dirt;
And make it sleazy;;

The Price of gold is going up to 1000, and oil for 100 too;;
The dollar keeps a falling, a depression is a calling, better try some fu-man-chu;;

Yeah, we got it sleazy;;
No free market system, can you see, yah!
We gotta re-regulate it, yeah Babe....
Doo, doo, doo, doo.

Let's look at some of the recent exciting market data:.

* The price of gold in dollars leaped to $845;
* The price of oil in dollars passed $98, headed for $100
* and quickly beyond, in all estimations;
* The dollar fell to nearly $2.11 to the British pound; to a 60-year low against the Canadian dollar; to below $1.47 to the euro; nearly to 113 yen/dollar; all of these are accelerating plunges;
* Wall Street financial interests were demanding Fed Chairman Ben Bernanke promise another interest rate cut, in Congressional testimony tomorrow--an hysterical demand given the hyperinflation already set off by central bank money-printing to save the banks;
* The New York Stock Exchange Dow-Jones index is going down again, especially financial and insurance stocks, plunging, some by 10-15%;
* Morgan Stanley, which had just reported a billion-dollar loss in leveraged buyouts which failed, discovered $3.7 billion in new losses in mortgage securities, joining virtually all big banks in the tank;
* Moody's Investors Service started cutting rates on on $33 billion of debt of the big banks' structured investment vehicles (SIVs), hitting 16 SIVs of Citigroup, British HSBC and Germany's WestLB.

So since the Federal Reserve, the ECB etc. are going to be bailing people out anyway, why not have a good old bankruptcy reorganization??

By the way, anyone interested in real estate in Winslow, Arizona? They say there are some nice little theme parks there. OK, take it easy.

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